Ringmetall concludes its second acquisition in the inliner sector with the acquisition of Tesseraux

Ringmetall Aktiengesellschaft / Key word(s): Takeover
Ringmetall concludes its second acquisition in the inliner sector with the acquisition of Tesseraux

12-Jun-2019 / 12:12 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Ringmetall concludes its second acquisition in the inliner sector with the acquisition of Tesseraux

Munich, 12 June 2019 - Ringmetall AG has successfully completed its second acquisition of a provider of so-called inliners. The notarization of the acquisition of Tesseraux Spezialverpackungen GmbH, headquartered in B├╝rstadt (Germany), took place today.

The company's products include aluminum liners, round bottom liners and bag-in-box systems. With the acquisition, Ringmetall has acquired one of the main competitors in the inliner sector, which also has a range of complementary products and technical production know-how. The acquisition underlines the strategy of consistently consolidating the market for inliners.

As part of the transaction, Ringmetall AG will acquire 100 percent of the business interest from the parent company SVD Verpackungen GmbH, based in Ahaus (Germany). Tesseraux generated sales of around EUR 8 million in 2018 with an EBITDA margin of around 13 percent. The company currently employs about 50 people and has no real estate holdings.

Regarding the purchase price, the two parties have agreed to secrecy. The underlying EBITDA multiplier is on the average level of past acquisitions of Ringmetall AG. The acquisition is financed via free agreed credit lines. The takeover of the business activities takes place as of 1 July 2019.

Furthermore, the parties have agreed to take over the form inliner division of SVD Verpackungen. The carve-out of the division is planned for the coming months. The business activities of Tesseraux will in future be bundled with the activities of the Group subsidiary Nittel in its own Group company. A managing director for the company has already been hired.

The company will publish a specification of the outlook for expected sales and earnings development in the current financial year, which also adequately reflects the effects of the acquisition of Tesseraux, with the publication of preliminary business development figures in the first half of mid/end of August 2019.

Information and Explanation of the Issuer to this News:

Further details on the acquisition will be discussed by the Management Board at 13:00 CET tomorrow, 13.06.2019, during a conference call for analysts, institutional investors and journalists. The registration for this is done via E-Mail via Mrs. Anja Brabec (brabec@ringmetall.de).

Ingo Middelmenne
Investor Relations
Ringmetall AG

Phone: +49 (0)89 45 220 98 12
Mobile: +49 (0)174 90 911 90
Email: middelmenne@ringmetall.de


About Ringmetall Group

Ringmetall is an internationally leading specialist in the packaging industry. The Industrial Packaging business segment offers highly secure gasket and locking systems for the chemical, the petrochemical and the pharmaceutical industry as well as the food industry. The Industrial Handling business segment develops application-optimized vehicle accessory parts for the handling and transport of packaging units. Besides its headquarters in Munich, Ringmetall has worldwide production and sales subsidiaries in Germany, Great Britain, Spain, Italy, Turkey, the Netherlands, as well as in China and the USA. On a global scale, Ringmetall generates revenues of around EUR 130 million per year.

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